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Economic Operation Briefing of China Coatings and Pigments Industry in 2023
2024-06-03 10:33
1 Overview of Production and Operation in the Coatings Industry
1.1Overview of the Development of China Coatings Industry in 2023
China Coatings Industry has shown a positive trend of steady progress and steady improvement in 2023.
According to data from the China Coatings Industry Association, the total annual production of coatings in 2023 was 35.772 million tons, an increase of 4.5% compared to the same period last year; The apparent consumption was 35.663 million tons, an increase of 4.2% compared to the same period last year (seeFigure1).In terms of business revenue, the main business revenue of China Coatings Industry was 404.48 billion yuan in 2023, a year-on-year decrease of 4.5% (see Figure 2).
From the perspective of profit situation, the total profit of China Coatings Industry was 23.74 billion yuan in 2023, a year-on-year increase of 9.5% (see Figure 3).
1.2 Double Index Analysis of China Coatings Industry in 2023
The procurement costs of raw materials in China Coatings Industry have significantly decreased compared to the same period in 2022 (see Figure 4) in 2023, with a monthly average decrease of 19.52%. Although the prices of finished products showed a weakening trend at the beginning of the second quarter, the overall decrease was relatively small, with a monthly average decrease of 1.64%. Therefore, reflecting the industry's annual revenue and total profit, the growth rate of the industry's main business revenue only narrowed, while the growth rate of the industry's total profit reached 9.5%, indicating that the biggest contribution to profit growth came from the reduction of raw material prices.
This also indicates that the uncertainty of the industry's profit growth momentum in 2024 is increasing.
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